We have just added 4 sample engagement letters (1040, 1120, 1120S & 1065) to the Resource Center. Make sure you get a signed engagement letter every year from your clients. Remember these are samples only and you should consult legal counsel before using.
Coming Soon: Updated Disclosure Letters.
Go to the Resource Center to download the samples.
My 2020 partners in the UK, Gordon Gilchrist and Ian Fletcher recently presented a Practice Management webinar for our European members and we’d like to share the recording with you. The webinar focused on:
With tax season looming, this webinar is designed to get you off to a flying start. While Ian and Gordon sound funny, they do have some great ideas that will result in greater growth and profitability. You might need some translation services, especially when they discuss some of the resources, so please do give us a call.
At a recent seminar an attendee shared with us how his small firm (2 professionals) added $1 million specifically from their Audit Prepayment Program (APP). Granted this was over a 20 year period, but I’m sure there are a number of members that would like an additional $50,000 in revenue this year and every year.
What is the Audit Prepayment Program?
For an extra 10% of fees (minimum $100), we will represent our clients in any audits related to the returns we prepared up to the appellate level at no charge. Typically we just offer this to individuals, however many member firms are now offering the service to their business clients; though the percentage of fees is often higher.
The key to success is that the APP is an opt-out service. We advise clients in January with the APP letter that accompanies their organizer. You can find the letter in the Resource Center.
We then include the Audit Prepayment Program fee on the invoice and in parenthesis we include the following language (If you do not wish to use this service, please disregard this optional charge).
You can expect a 30-50% take up of this service and be warned, some clients will get audited. In fact you might restrict who is offered this service. It is a great service that both offers peace of mind to your clients and increases your average transaction value.
Go to the Resource Center.
Access to the Resource Center requires regular membership to 2020 Group USA. Regular membership is free. Register now at www.2020groupusa.com/register.
Tax time is a great time for marketing and a simple tax organizer is the perfect tool. This tax organizer is only 4 pages and is a marketing tool, not an information collection piece. The key here is numbers, get this organizer out to as many people as possible.
Some ideas for the organizer include:
Download the 2020 Tax Organizer and customize accordingly.
We use www.wigtonline.com to print our tax organizer and I know Eva would be delighted to help 2020 Members. The organizer has been created in Microsoft Word and is easy to customize.
Download the tax organizer from the Resource Center. You must be a regular member to access the Resource Center. Register for free regular membership at www.2020groupusa.com/register
Well first and foremost, it’s the online home of the accounting profession.
But also it’s a great source of inbound referrals for 2020 Premium Members.
2020 has partnered with iShade to be the exclusive membership organization of iShade. What does that mean for you? When you create a profile on iShade you get listed in the 2020 Gateway. The 2020 Gateway is an online directory that allows other accountants to search for your expertise in your area if and when their clients have a need for your services. We believe that our members will enjoy a significant opportunity for additional business.
Ready to sign up? Fill in the registration form.
TIP: The more detail the better! But don’t tick every box, make sure you stand out from the crowd.
We have been speaking to members in the last couple of months finding out what they want from 2020. One key message we have heard is that members want more guidance and more help in building their firms. They want to know how they’re doing, and so we are introducing the Annual Performance Review (APR).
The APR is a 60 minute consultation for Premium Members that looks at your key performance indicators, and how they compare to key industry benchmarks; as well as create an action plan for the coming 12 months. The goal is to help you establish and work towards at least 3 key initiatives to implement for in your firm.
To take advantage of the APR, log in to the Premium Resources section and download and complete the excel questionnaire. When you send it back to 2020 include any marketing materials, proposal letters etc that will help us gain a better understanding of your firm. We’ll then schedule a phone call with you to discuss your responses and craft a strategy for the future. Once all the numbers are in, we’ll share a benchmark report of 2020 Group members.
We’ll also check in on you in 6 month time to make sure you’re doing what you said you would do.
Did you know that Accounting Today was free for folks in public accounting? Accounting Today is a great resource to keep up to date with what’s happening in the profession. And while they have a larger firm focus, it’s definitely a valuable read for all accounting professionals. You can get your free copy by clicking on http://www.accountingtoday.com/2020Group.
Tip: Be sure to answer YES on question 1 – Does your firm offer public accounting/professional accounting and tax services.
One of the ways you benefit from your membership in 2020 is the ability to tap into our global network of firms. As such, we are pleased to announce a new partnership between the 2020 Groups and iShade.com – The Accounting Profession Online.
iShade is the new and exciting online “professional ecosystem” specifically designed for accountants around the world. Currently concluding the beta portion of their development cycle, iShade will launch to the public on May 24th. As part of that launch press event in New York City, Jeff Pawlow, CEO of iShade will also be announcing the details of the portal’s strategic relationship with 2020!
2020 is the exclusive association partner for iShade and will receive special branding and recognition on the site through the 2020 Gateway – a dynamic online directory of all 2020 members around the world. In addition to being able to easily identify the expertise you are looking for within the 2020 firms outside of your specific geographical area, other non-2020 iShade users will also be able to search the 2020 Gateway for help and assistance with their client’s unique multi-state and international needs.
Since the majority of small and medium sized accounting firms do NOT belong to an international association, the 2020 Group essentially becomes their virtual association via the 2020 Gateway.
Imagine the benefit of having the hundreds of firms not associated with a network being able to easily identify your firm when they need help in your particular expertise areas, whether they be geographical (e.g. can we engage you to perform an inventory on our behalf) or technical (e.g. can we engage you to help us with a complex tax issue related to your firm’s locale). We believe that our members will enjoy a significant opportunity for additional business as a result of 2020 being prominently featured within the iShade environment. Additionally, we have created online communities for each of the 2020 groups to easily collaborate with each other within the site as well. We are pleased to announce that all of this is being provided at no cost to our members!
To add your firm to the 2020 Gateway directory, I am asking that you complete the 1 page form that can be found at http://beta.ishade.com/member/signup/twetwe by close of business on Friday, April 30th, 2011. Please be sure to be as complete as possible as the quality of your firm’s search results will be predicated on the quality of information entered into the form.
Thank you in advance for doing your part to make the 2020 Gateway launch an overwhelming success! I look forward to seeing you online.
This 4 page tax organizer is a great way to attract new clients. Here are some ideas for your marketing efforts:
Of course you can use the tax organizer that is generated by your tax software, but I always find them extremely cumbersome, and they obviously can’t be used for prospective clients.
Premium members can download the 2010 Organizer from the premium resource section. You’ll need to insert your logo and contact details before you send it to the printers. We use www.wigtonline.com for our printing needs (much better quality than vistaprint). Regular members you can update the 2009 organizer found in the regular resource section. Premium membership is $35 per month. Find out more information about premium membership.
The New Business Kit (formerly The Successful Business Kit) is a turn-key marketing tool to promote your firm. It’s promoted as a comprehensive guide to the financial, tax and accounting considerations of starting a new business. It’s the perfect giveaway to current clients and referral sources as well as a great call-to-action for prospective clients.Every marketing piece must have a call to action and this $4 professionally published book is perfect.
Members: $150
Non-Members: $200
When you buy the NBK you receive the rights to reproduce the New Business Kit, the data files and a step-by-step publishing guide to customize, upload and publish your own book. You will need particular editing software (such as Adobe Illustrator and Adobe Acrobat) or access to a graphic designer. Alternatively you can utilize our customization services. 2020 Customization services include:
Each service is $100 for members and $150 for non-members (per service).
Download Order Form
Welcome to the 2020 Group blog Million Dollar CPA, I'm Chris Frederiksen. In addition to being a practicing CPA, I (and the 2020 consultants) also consult with hundreds of firms every year. The objective of this blog is to bring the world's best practices directly to you to help you identify new revenue streams, become more efficient, make more money and have more fun!
visit www.2020groupUSA.com
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